AusLeisure

With the highly anticipated Twentieth Century Fox World Theme Park set to open this year, Malaysian-based casions and integrated resorts operator Genting Bhd has posted a 9.8% drop in net profit to in the first quarter of the year on the back of 10% growth in revenue to MYR5.25 billion (US$1.3 billion).

While earnings were boosted by improved revenue at its Resorts World Genting (RWG) unit, the group advised that lower earnings was due to the lack of one-time gain that boosted its performance the same corresponding period last year.

Preparing to roll-out its new Skytropolis indoor theme park and the world's first Twentieth Century Fox World Theme Park at its Resorts World Genting property near Kuala Lumpur, the increased revenue, was partially offset by higher costs incurred for the new facilities.

In a statement, the Group advised “the opening of new attractions under its Genting Integrated Tourism Plan (GITP) has also contributed significantly to the increase in revenue.

“The ongoing development of the GITP at RWG remains the primary focus of the Genting Malaysia Bhd .”

In Singapore, Resorts World Sentosa recorded higher revenue and adjusted earnings before interest, tax, depreciation and amortisation (ebitda) in the first quarter on the back of healthy growth in volumes across all major business segments.

Commenting on this, the statement added “the ongoing strategy to focus on affluent regional business proved to be effective as the mass and premium mass business continued to deliver encouraging results.”

Genting’s other overseas operations continued to face challenges with revenue from its casino businesses in United Kingdom and Egypt decreasing, while its leisure and hospitality business in the US and Bahamas were affected by the weaker US dollar.

Image: The Twentieth Century Fox World Theme Park is to open at the Resorts World Genting property near Kuala Lumpur.

1st May 2018 - DUBAI’S 20TH CENTURY FOX WORLD THEME PARK ON HOLD AS DEVELOPER WARNS OF ATTRACTIONS OVERSUPPLY 

3rd June 2017 - GLOBAL THEME INDEX SHOWS MIXED ATTENDANCE TRENDS FOR THEME PARKS 

27th May 2016 - ASIAN THEME PARKS LEAD GLOBAL ATTRACTIONS INDUSTRY GROWTH

4th April 2016 - EXPANSION OF REDEVELOPMENT OF RESORTS WORLD GENTING

21st October 2015 - WEAK RINGGIT DELAYS OPENING OF TWENTIETH CENTURY FOX THEME PARK IN MALAYSIA

29th July 2015 - MALAYSIA NAMED TOP GLOBAL TOURISM DESTINATION FOR MUSLIMS

17th July 2014 - VILLAGE ROADSHOW TO DEVELOP ASIA’S SECOND TWENTIETH CENTURY FOX WORLD THEME PARK 

17th June 2014 - GENTING MALAYSIA REVENUES DIP DURING TWENTIETH CENTURY FOX WORLD THEME PARK CONSTRUCTION

12th February 2014 - GENTING TO BUILD US$2.2 BILLION INTEGRATED RESORT IN SOUTH KOREA 

3rd January 2014 - PLANS UNVEILED FOR MALAYSIA’S TWENTIETH CENTURY FOX WORLD THEME PARK 

18th June 2013 - OVERSEAS CASINO OPERATORS EYE SOUTH KOREAN MARKET

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